Dhaka stocks gain amid volatility
Monday, 11 April 2011
FE Report
Dhaka stocks closed higher Sunday amid volatility as many investors are reportedly in confusion over the implementation of the stock market probe report. Sunday was the first trading day after submission of the much-talked-about share market scam repot. Some stock brokers said the investors reacted positively to the probe report which keeps the market steady. The stock scam probe committee headed by former Bangladesh Bank deputy governor Khondker Ibrahim Khaled submitted its report to Finance Minister AMA Muhith Thursday. The market opened with a negative note in the morning and lost more than 25 points within five minutes. However, it started to gain and at about 11.20pm it gained 34 points. After moderate ups and down several times throughout the session, the market finally closed 15.91 points higher. The benchmark DSE General Index (DGEN), the yardstick of the DSE, rose 15.91 points or 0.24 per cent to close 6,556.52. The broader All Shares Price Index (DSI) closed at 5,438.84, rising 14.46 points or 0.27 per cent. However, the DSE-20 Index comprising blue-chip shares shed 18.47 points or 0.46 per cent to end at 4,013.25. The investors reacted positively to the probe report and expected that the market would get stronger and transparent after different suggestions made in the probe report and for that the market is almost steady, said a leading stock broker. Commenting on market situation, Mr Yawer Sayeed, managing director of AIMS of Bangladesh, said though the market closed positive, many investors still in safe zone and they want to see the out come of the probe report. "Though investors reacted positively to the probe report, many of them are in confusion over its implementation and they want to see out come of the report whether the government takes punitive action or not," said Mr Sayeed. "If the government fails to take action against the share market manipulators, it will definitely put negative impact on the market," he mentioned. The daily turnover stood at Tk 12.90 billion in value terms on the day, up by 6.70 per cent, from Tk 12.09 billion in the previous session.
Dhaka stocks closed higher Sunday amid volatility as many investors are reportedly in confusion over the implementation of the stock market probe report. Sunday was the first trading day after submission of the much-talked-about share market scam repot. Some stock brokers said the investors reacted positively to the probe report which keeps the market steady. The stock scam probe committee headed by former Bangladesh Bank deputy governor Khondker Ibrahim Khaled submitted its report to Finance Minister AMA Muhith Thursday. The market opened with a negative note in the morning and lost more than 25 points within five minutes. However, it started to gain and at about 11.20pm it gained 34 points. After moderate ups and down several times throughout the session, the market finally closed 15.91 points higher. The benchmark DSE General Index (DGEN), the yardstick of the DSE, rose 15.91 points or 0.24 per cent to close 6,556.52. The broader All Shares Price Index (DSI) closed at 5,438.84, rising 14.46 points or 0.27 per cent. However, the DSE-20 Index comprising blue-chip shares shed 18.47 points or 0.46 per cent to end at 4,013.25. The investors reacted positively to the probe report and expected that the market would get stronger and transparent after different suggestions made in the probe report and for that the market is almost steady, said a leading stock broker. Commenting on market situation, Mr Yawer Sayeed, managing director of AIMS of Bangladesh, said though the market closed positive, many investors still in safe zone and they want to see the out come of the probe report. "Though investors reacted positively to the probe report, many of them are in confusion over its implementation and they want to see out come of the report whether the government takes punitive action or not," said Mr Sayeed. "If the government fails to take action against the share market manipulators, it will definitely put negative impact on the market," he mentioned. The daily turnover stood at Tk 12.90 billion in value terms on the day, up by 6.70 per cent, from Tk 12.09 billion in the previous session.